Location: Scranton--Wilkes-Barre, PA | Metro: Scranton--Wilkes-Barre, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
U.S. Census Bureau data (2024)
ZIP code 18636, located within the Scranton--Wilkes-Barre, PA MSA, presents a unique profile when compared to other ZIP codes in the same metropolitan area. The Fair Market Rent (FMR) for ZIP 18636 is set at $930 for fiscal year 2024, which is notably lower than the market rent of $1,074. This suggests that the area might be attractive for Section 8 participants, as it offers rental rates below the market average.
The median home value in ZIP 18636 is $186,632, which is likely below the metro-wide average, positioning this ZIP as a potentially valuable area for investors seeking properties at a lower price point. The 14.7% renter share indicates a higher concentration of renters compared to some areas, which aligns with the lower FMR and could signal a sweet spot for Section 8 investment opportunities.
To determine if ZIP 18636 is a value pocket, mid-tier neighborhood, or a premium sub-market, we must consider the interplay between FMR, market rent, and home values. With an FMR of $930 and a market rent of $1,074, landlords can expect a gap between government-subsidized rents and what the market would bear, offering a niche for those willing to participate in the Section 8 program. Additionally, the lower home value compared to the metro average suggests that this ZIP code is more aligned with being a value pocket rather than a premium sub-market.
The divergence between the relatively low home values and the above-average renter share is indicative of a potential sweet spot for Section 8 investments. Landlords and small-portfolio investors looking to enter the Section 8 market should find ZIP 18636 appealing due to its affordability and the concentration of renters who may benefit from the housing assistance program.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.